Case Study: Splitdrop reduces fraud by 82% with Verisoul

How Splitdrop reduced fraud rates by 82% in one month with Verisoul

Splitdrop, a company building a user advertising platform, faced the challenge of sophisticated fraud, fake accounts, and bots that were abusing its reward system. As a lean team, they needed to stop this activity without the high costs and engineering effort of their previous multi-vendor approach, especially since other solutions had high false positive rates that hurt user onboarding. They turned to Verisoul to implement its comprehensive Fake Account Detection suite, which includes capabilities like geolocation analysis and proxy detection.

Verisoul's solution provided granular data to accurately score accounts, enabled precise geoblocking, and utilized FaceMatch to verify users during withdrawals, which completely eradicated a manual review process. As a result, Splitdrop achieved an 82% reduction in fraud in the first month and a 50% reduction in false positives, allowing for safer growth. The implementation also replaced multiple external vendors and saved the team 10 hours per week on manual reviews.

Splitdrop

Chris Mylan

Chief Executive Officer